Vita Coco (NASDAQ:COCO) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Vita Coco (NASDAQ:COCO) from a buy rating to a sell rating in a research report released on Saturday.

Other research analysts have also issued research reports about the stock. Bank of America upgraded shares of Vita Coco from a “neutral” rating to a “buy” rating and raised their price target for the stock from $48.00 to $54.00 in a report on Monday, November 17th. Morgan Stanley lifted their target price on shares of Vita Coco from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Wells Fargo & Company upped their price target on shares of Vita Coco from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Jefferies Financial Group increased their price target on Vita Coco from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Finally, Piper Sandler boosted their price objective on Vita Coco from $47.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and a consensus target price of $53.88.

Vita Coco Stock Up 4.3%

Shares of NASDAQ:COCO opened at $53.96 on Friday. The firm has a market cap of $3.08 billion, a P/E ratio of 45.73, a P/E/G ratio of 1.53 and a beta of 0.38. Vita Coco has a 12-month low of $25.79 and a 12-month high of $59.88. The business has a fifty day simple moving average of $54.29 and a 200 day simple moving average of $46.22.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $127.79 million during the quarter, compared to analyst estimates of $117.80 million. Vita Coco had a net margin of 11.70% and a return on equity of 23.19%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. As a group, equities research analysts expect that Vita Coco will post 1.07 EPS for the current year.

Insider Transactions at Vita Coco

In other news, Director Kenneth Sadowsky sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $53.92, for a total value of $210,288.00. Following the completion of the sale, the director directly owned 608,266 shares in the company, valued at $32,797,702.72. This trade represents a 0.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ira Liran sold 33,862 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $50.27, for a total value of $1,702,242.74. Following the transaction, the director directly owned 602,579 shares in the company, valued at approximately $30,291,646.33. This trade represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 117,043 shares of company stock worth $6,222,959 in the last three months. Insiders own 32.30% of the company’s stock.

Institutional Trading of Vita Coco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Vita Coco by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock worth $166,959,000 after buying an additional 237,510 shares during the last quarter. Wasatch Advisors LP increased its position in shares of Vita Coco by 3.3% during the third quarter. Wasatch Advisors LP now owns 2,729,393 shares of the company’s stock worth $115,917,000 after acquiring an additional 86,541 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Vita Coco by 22.1% in the 4th quarter. Wellington Management Group LLP now owns 2,432,362 shares of the company’s stock worth $128,940,000 after acquiring an additional 439,958 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Vita Coco by 12.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,073,329 shares of the company’s stock valued at $88,054,000 after acquiring an additional 224,305 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Vita Coco during the 3rd quarter valued at about $62,815,000. Institutional investors own 88.49% of the company’s stock.

Vita Coco Company Profile

Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.

The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.